First Western Takes Northwest Footprint South Into Springdale

Booneville’s First Western Bank is opening its first branch in the Washington County market.

The Springdale location at 7322 W. Sunset Ave., Suite D, will expand First Western’s branch network to 11.

The $404 million-asset lender operates five offices in neighboring Benton County, four in Logan County and one in Sebastian County.

First Western will join a competitive field of 14 other banks in the $1.7 billion-deposit Springdale market.

In terms of deposit market share, Springdale’s big three are Arvest Bank of Fayetteville, nearly 33.4 percent; Legacy National Bank of Springdale, more than 21.3 percent; and First Security Bank of Searcy, nearly 20.7 percent.

First Western began building its northwest Arkansas franchise in 1995 with a Rogers branch.

Since then, its Benton County operation has grown to three locations in Rogers and one each in Bentonville and Bella Vista.

Amid 26 competitors, First Western holds the fourth largest block of Benton County’s $5.1 billion in deposits: 3.7 percent. Arvest Bank overshadows all at more than 56.7 percent followed by Bank of America in Charlotte, North Carolina, at 4.9 percent and Little Rock’s Bank OZK at nearly 4.4 percent.

First Western Bank, Booneville
Total Assets: $404,173        Net Income: $1,547
Equity Capital: $35,910       Staff: 106
(As of June 30)

Source: Federal Deposit Insurance Corp. Dollars in thousands.